Flow48 Wraps Up $25 Million Pre-Series A Funding Round
With an eye on expansion, the UAE based fintech strategically ventures into South Africa.
UAE-based fintech startup, Flow48, has announced the closing of a $25 million pre-Series A funding round, as per a statement.[1]
The funding round, consisting of a blend of equity and debt, boasts participation from investors, including Speedinvest, Daphni, 212, Blockchain Founders Fund, Unpopular Ventures, Endeavor Catalyst, and the angel investor Scott Sandell from NEA.
Founded by Idriss Al Rifai, Flow48 is dedicated to addressing the challenges faced by small and medium-sized enterprises (SMEs) in obtaining working capital financing.
The fintech startup has developed a platform renowned for its real-time functionality, seamlessly integrating with major enterprise resource planning (ERP) providers, payment gateways, and e-commerce platforms.
Flow48 also facilitates a more precise and efficient credit assessment process, setting new industry benchmarks for SME lending.
An intrinsic aspect of Flow48's model lies in its commitment to Environmental, Social, and Governance (ESG) principles, with a specific focus on empowering underrepresented segments within the SME sector.
This includes a focus on green energy sectors and supporting enterprises that integrate sustainable practices into their business models. The startup takes pride in its diverse client base, counting several women and minority migrant-led businesses among its success stories.
With an eye on expansion, Flow48 strategically ventures into South Africa, drawn by its robust SME lending market and advanced fintech ecosystem.